How the University can buy property and where the money is from
Maddie Pukite | September 18The University's Real Estate Department was recently given permission by the Board of Regents to negotiate the price of property they wish to buy before the Board approves the purchase. The money that pays for the property is from the Regents Endowment Fund. This pot of money also goes towards scholarships. “It's still the same process, it just expedites trying to identify the funding source because the Regents authorized (us) to use that source subject to their approval on each case,” Thomas Neale said – Director of UNM Real Estate. The Regents Endowment is one of three endowments the Board controls. Each fund has specific stipulations of what the money can go towards. Amongst others, the Regents Endowment can go towards scholarships and property acquisition.